Tapestry price target lowered to $55 from $60 at Wells Fargo

Wells Fargo lowered the firm’s price target on Tapestry to $55 from $60 and keeps an Overweight rating on the shares. Despite reporting an “OK” Q3, Tapestry lowered its outlook for both North America and China, the analyst tells investors in a research note. Wells remains bullish on the risk/reward from here.